Prelude Capital Management LLC Boosts Holdings in Pentair plc (NYSE:PNR)

Prelude Capital Management LLC raised its stake in shares of Pentair plc (NYSE:PNR – Get Rating) by 33.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,212 shares of the industrial products company’s stock after buying an additional 2,578 shares during the period. Prelude Capital Management LLC’s holdings in Pentair were worth $415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PNR. Vanguard Group Inc. increased its holdings in Pentair by 0.5% in the first quarter. Vanguard Group Inc. now owns 18,837,080 shares of the industrial products company’s stock valued at $1,021,158,000 after buying an additional 85,431 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Pentair by 12.1% in the 3rd quarter. Impax Asset Management Group plc now owns 13,816,172 shares of the industrial products company’s stock valued at $560,589,000 after purchasing an additional 1,492,905 shares in the last quarter. State Street Corp raised its holdings in Pentair by 15.5% in the 2nd quarter. State Street Corp now owns 10,168,937 shares of the industrial products company’s stock worth $465,432,000 after purchasing an additional 1,366,650 shares during the period. Invesco Ltd. boosted its position in Pentair by 8.2% during the first quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock worth $344,045,000 after purchasing an additional 479,701 shares in the last quarter. Finally, Pictet Asset Management SA increased its position in shares of Pentair by 1.0% in the third quarter. Pictet Asset Management SA now owns 3,971,147 shares of the industrial products company’s stock valued at $161,347,000 after buying an additional 39,801 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Insider Transactions at Pentair

In related news, Director Glynis Bryan sold 3,947 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $45.14, for a total value of $178,167.58. Following the sale, the director now directly owns 27,609 shares in the company, valued at approximately $1,246,270.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

PNR has been the topic of a number of recent analyst reports. StockNews.com upgraded Pentair from a “sell” rating to a “hold” rating in a research report on Monday, January 30th. Oppenheimer boosted their target price on shares of Pentair from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. Robert W. Baird raised their price target on shares of Pentair from $48.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, February 1st. Mizuho increased their target price on Pentair from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Finally, Morgan Stanley lifted their price target on Pentair from $41.00 to $49.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.31.

Pentair Trading Down 0.9 %

Shares of PNR opened at $52.23 on Tuesday. Pentair plc has a 12-month low of $38.55 and a 12-month high of $60.85. The firm has a market capitalization of $8.59 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.83 and a beta of 1.13. The firm has a 50-day moving average price of $53.15 and a 200 day moving average price of $46.96. The company has a current ratio of 1.47, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Pentair (NYSE:PNR – Get Rating) last posted its earnings results on Tuesday, January 31st. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $993.68 million. Pentair had a net margin of 11.67% and a return on equity of 23.40%. Pentair’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. Sell-side analysts forecast that Pentair plc will post 3.54 EPS for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 5th. Stockholders of record on Friday, April 21st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, April 20th. Pentair’s dividend payout ratio (DPR) is presently 30.45%.

Pentair Company Profile

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Pentair plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.